The Sun. — London, England, 1826-02-28 00:00:00

' , , ~~. ~3 ;. u 'NUMBER 10,442 CO.ViItACT FOR BRITISH IRON'. Nary-Office. Ffh.lB, 1816. Ti; E PRINCIPAL OFFICERS and COM 711.1SSI1)NE RS of HIS AteI.IESITS NAPY do h,reby cier Notice, that an THURSDAY, the 23i1 March 'mat, at (.),w o'Clock, they will be ready to treat with POI Pei-snug its may be willing to Contract for ntiw dying' Ins Majesty's several Docli,Yards with BRITISH IRON, ronifittbig o Bolt - Stapee, Square's, Kats, add Short Broads. .4 Form of the Tender, man . be seen at tins Office. T eA dev cni.l6 be received after One o'Clock, on the Day - of T r oty, , nor any noticed, unless the Party . , or an Agent for Alma, ntlends. Every Tender mien be necomynnied by-a Letter addressed to the .Vlicy Mord, and signed ley TwO reSponsak Persons. engaging to become bound with the Person tendering, in the Swat of 3,000!. for the tine imrformonce of the Contract. To the GENTLEMEN, CLERGY', end FREEHOLDERS of the COLT; ' Z'TN 4 of NORTH C3II.3ERLA ND. GENTLEMENT,' THE result of yesteirday's Poll has established my confidence in the reception you gave me, has Con firmed my belief that the sacred trust of your representation would never be delegated as a piece of family property, The only ground's on which my adversary attempts to justify his' opposition, seem to be his relationship to your late excellent Member. My proSpects are :founded on the great public cause which I stepped forward to protect, and upon those principles which it is equally my pride to assert, and your interest to maintain. 1 exhort, I intreat the remaining Freeholder: of the County to secure me, by their unanimous Suffrages, from the disho nour of being made tY victim to broken promises and misplaced confidence. I await your assistance, and look forward to victory. I have the honour 0 remain, Gentlemen, Your obliged and faithful servant, . HENRY THOMAS liIDDEI,t. Committee-room, Alnwick, Feb. 23, 1816. NOTICE TO ARTISTS. A T.T. WORKS of PAINTING, SCITLP -i—A, TORE, and ARCHITECTORE, intended for the enit►K Exuma: (vs at the ROYAL ACADEMY, Initqt he sent in on MONDAY, the 34, or by Six o'Clock on TUF.S DAY, the 4th of April, after which time none call possibly he received. The particulars necessary , to he attended to, may he ob.. taimed by application at the Royal Academy. • HENRY HOWARD, lt.A. See. • PIA NO FORT ES.—Several Elegant ROSE• WOOD and ,MAHOGANY six.ourAvE vowrEs, equal to any made, for fine touch and Irrilliatit tone, worth the attention of private purchasers or dealers will bear the strictest inspection ; warranted to stand - well in bone. To he sold mach under the usual price cleared for such instilment% and when the uinct decided iviti..toci ion not given, in be exchanged by applying to the Mantif,ctnrer, R. rurNsELL, tetrad-Oreet, Golden-4quare; Manufactory in New-street,—Piano Fortes taken in exchange. • THE TAILORS AND .GENERAL OUT. NO SOCIETY, N 0.90. STRAND, LONDON. - - -- - - - . r HE Ohject'of this House is to give Constant Employment to Good Wos hotels, and also to supply Todustrious Females with Plain Work its the READY NIADN.: LINEN and OUFIVIING DEPAWII4F,NT. The Visible Atlasstage of Purchasing Nfanufact tired Goods for CASH at such a period as the present, enables E. PAYNE isnd CO. to sell at such Prices a , defy Competition. Mess Coats from ~.,,. , • , - - Li 50t0£3 3 0 TglOit'Criats' - - . 110 0 315 0 bouhle-milled Kersevmere Yrowsers 1 1 0 1 5 0 Meet hes - . - U 18 0 1 6 0 Waistcoats - . - 0 7 6 0 lii 0 Travelling Chntli's - 1 10 0 1 10 0 Dres.ine. Gowns - - 014 0 1 1 0 Good Shirts for India - - 1 10 0 per Dt.zrn. Hose - - 0 7 6 Ditto. - - Sheets - _ 0 8 0 per Pdir. . Pillow Cases - - - 0 14 0 per Dozen. Night Caps - . . 0 4 0 Ditto. deaoriachets - - _ 0 4 6 Light 'reowsers . . 0 6 0 per Pair. * 4 * Linen Shirts of every Quality ready for immediate Use, and all other article. equally Low. ry• Cientlenien and other ,, Ruing Abroad, will find Great Advantage by ass 1.411 v Application i n the Agents. 's" Opposite Southamptott-street, Strand! !! TO-31 0.1: HOW. and J. SI V I , :lVltaArr, the CON. LP • TRACTORS' REWELII• SCHEME. SIX TWENTY THOUSANDS! and other Prizes, forming an negreote of a QUARTER of a MILLION STERLING, ALL most be DECIDED TO-MORROW, Ist MARCH, and' LOTTERIES END for EVER after TWO MORE DRAWINGS. ; .I. l Kftet;;;n7dehares are Selling by J. &J. SIVHW RIO T, the Contractors, tit their fortunate Offices, No. 37, Combat ; Holbotn • and 38, Haymarket, London ; where they Sold 12,418 - a Prize of - £30,000 . . _ - 3,613 - a Priv.e of - £21,05 ! Ileaidee other Capitals, in the last and late laotteriee. TOMORROW. Zl ll SIT respectinily acquaints his hest • Friends, the Public, that the. New Scheme, which has been advertised at length, is inevitably the bust but Two that Can be submitted to the Public, as Parliament has decreed that, at the expiration of that period, they shall for ever cease. T..111:411 therefore advises those Persona who wish for an op. portnnity of gaining a large Sum for a small Risk, to lose no time, us it is more than probable, 'as the end approaches, Tickets will get scarce, and much hgher in price, without any increased chance of success. The main points of the New Scheme are—it possesses X FUMES OF £20,0001 Besides other Capitals and Minor Prizes to the Amount of l' WA RDS of -it QUARTER of a MILLION, - • ''...A1,14 STERLING MONEY; And all to be devided in ONE DAY, viz. TO-MORROW, ST. DAVID'S DAY, Ist AIARCH, being the Anniversary of ONE of 131811'S famous Lotteries, when his Welch Friends became such large Adventurers, and were so etuinently success ful. In the very last Lottery 141811 sold 7,349 Class A, a Prize of £30,000 ! 1h,f,16 Class 13, a Prize of ! They were distributed all over the United Kingdom ; and in the' preaeding Drawing, which, like the present, contained SIX 4.23,000 Prizes, BISH Sold THREE out of the SIX, 1,002 - - £20,000! 2,271 - - - £20,000 ! £20,000 Anil they, like the TWO X 30,000, went over every part of _ . the Kingdom. R o l ' l , l MSH augurs favourably of his success, from the present at - Y . ,L ne e li , l 'aving a similar number of Capitals : he has on sale , No. 4, Cornhill, and 9, Charing-Cross, Lon don, varitty of Tieliats and Shares. a" Tile Prices of Stocks are affixed to his Office in Corn hill, by which the Public can see the various fluctuations. 7XIXJZ PARLIAMENT. HOUSE OF LORDS, FE8.2,7. SMALL NOTES BILL. Viscount MELVILLE presented a petition from the No bility, Gentry, and Magistrates of the City and County of Edin burgh, praying that no alteration may be made in the Banking system. The Earl of ROSEBERRY could not allow the petition to be laid on the table, without stating that it spoke the general sentiment of the Country. Meetings on the subject had not only been held in Edinburgh, but in other parts. Meetings were also about to be holden, and unanimous, though not cla morous representations, would he made throughout the country, unless the measuieradopterifby his Majesty's Government for suspending the circulation of small notes in Scotland was.not stopped. Men of all parties, who never agreed upon any public question in their lives, had come forward to state that there newel was a measure submitted to Parliament, so likely to lead to injury as the Promissory Note Bill. • Viscount • MELVILLE presented another petition from Edinburgh, having the saute object. • Lord HARD WICKE presented a similar petition from Dtintlee. The Earl of LAUDERDALE presented three from Hada ing ton.--The above were read and laid on the table. CORN LAWS. Lord KING said he had a petition to present from the Ladies' Boot and Shoemakers of Westminster against the Land lord Act, the Bread Tax, commonly called the Corn Laws., Whenever a bad system had been found on the Statute Book, a quarter of a century had elapsed before it could be got rid of. It took that time to get rid of the city job, the Bank restriction. —With respect to the Corn Laws, it was doubtful when the system would be abolished. It was doubtful what part Govern. inent might take in the question. They might differ among themselves, and if ever they came to a decision, he bad much doubt whether the House of Commons would carry it into a law. The. conduct of the Government had been the subject of comparison. They had been compared to devils. tie did adopt that comparison. The Noble Lord would compare them with reference to the Corn Laws, to the ass of the Metaphy sician, who was supposed to stand between two bundles of thistles, unable to decide upon which he should browse first. —He might also compere them to the modern humble ass be tween two merciless drivers—one, representing the landed inte rest, basted hini togo one way—the manut'acturing interest en. deavoured to drive him the other. There was no hope of his taking the riht course until basted by the manufacturing in. wrest away f rom the present Corn Laws.—(A laugh.) The petition was then read. The Earl of 1331 ERICK did not rise to oppose the petition front the distinguished body of Ladies' Shoemakers. The Noble Earl was desirous of expressing a hope that Government would be watchful upon that important question, the Corn Laws, and not be led away by strong expressions. The Earl of LA.UHL RDA LE could not see any necessity for disturbing the Corn Laws. Lord KING presented another petition from the Free holders and others of the County of 1 1- ink—also one front Dar lington. Both were against the existing Corn Laws.—Laid on the table. ~,~ -L ~-~'G_ TUESDAY EVENING, FEBRUARY 28, 1826 moment when the Bank, if it had discharged its-duty towards the public, must havecarried the public currency to the highest amount which it considered necessary and prudent. If this were the case, would not such a sudden addition produce an in. jurious effect on the Exchanges. And should the Bank make a mistake, and cause rununneeeesary increase of currency, how difficult would it be to tread back its steps, and to bring back that metallic standard which could only be attained under favourable exchanges ? Agreeing as he did with the principles put forward, the other day, by the Noble Earl, and with their application on ether measures which had been proposed, he could not approve of the present intuneuvre to engage the Bank into a vortex of difficulties,. :tulle discretien of a Commission partly appointed by the Government--(" No, no," front the Earl of Liverpool).-.stall events influenced by the Goeern en t ; whilst it was the interest of Govienmetit, t fire Bank, and of the Country, that the Bank should be entirely independent in all its operations. The Earl of LIVERPOOL, though not prepared to enter into an , explanation of themeasure proposed, assured the Noble Ithetquis that-he had been misinformed on the whole state of the question, and that all his-observations has been founded on the error occasioned by misinformation. He agreed entirely with that? ohleMarquis as to the Principles toneluch he hied appeal ed, and which he him se lf h a d I c i c le h e el iTreivn to that House. He agreed that if the proposition Made tended to involve the Bank in difficulties, or to deprive it of the free command of its issueli, it would be wrong in principle, and highly.mischlevous in practice. He also objected to any special interference at all, if not absolutely necessary. But then he proceeded further, and lie found that the Bank had a legal right to advance money on goods. He owned that till lately he was not aware of this, nor any one with whom be was accustomed to act. However the right of the Bank was not extorted by the interpretation of a word: it was one bestowed by Act of Parliament, and the exercise of which had been regulated by a bye-law. In the very same clause which authorised the Hanle to buy and sell goods, and to advance money on discounts, were those words " or upon goods," and a bye-law directed new those goods were after wards to be disposed of. It was clear that the legal right of the Bank to advance money upon goods hail been con. templated by those who had giveb, those who had re ceived the charter, and the Parliament which had enacted the bye-law. He admitted at the same time, that because the right was legal, it did not follow that its exercise was ex pedient. But it circumstances made it necessary that relief should be granted, it was through the Bank that it should be granted, and not by converting the. Government into a Bank ; and inducing merchants not to look to themselves, to thoCoun. try Banks, or to the Bank of England, but to the Government alone, from whom no interference ought to proceed, except in cases where the bend of Clod hid sent the infliction, or political events of a peculiar and extraordinary nature had occurred.— Not only the circumstances of 1793 were very different froM the present, but it was at the commencement of a war, when in the preceding session the highly gifted iodividital at the heed of the Government had declared that there wise greater prospect of a long peace than had ever existed at any ft - inner - period in the' history of the count r y : N ow it w as not even pretended . that the present evils had sprung front political causes, hut all agreed that they arose from overtrading and the state of the currency. Re had, therefore, no hesitation in saying, that the Bank having the legal power of advancing money upon goods, if relief weir to he granted, it was through the Bank that it ought to come. Whether the Bank would grant it, he could not say ; it would be for the Bank itself to decide. -He admitted all the inconveniences which it was alleged would arise front the Bank adopting such a course, but all those in conveniences would be far greater with an issue of Exchequer Bills. It would-be visionary to think of making such an issue unless the Bank were to cash them, and it' it did, all the ob jections urged against the present measure, would apply with ten timers more force to -such an expedient. It would be int: proper for the Bank to issue money on goods for alonger period than if it discounted Bills. Whatever limitations it, nut to its discounts, it ought to put to its adVances. And then what dif ference would there not be between an issue on goods, re payable in two or three months, anti Exchequer Bills which might be kept out one year at least, if not many years. For the issue of 1793 took more than one year to wind up; and one made at a later period nes not entirely wound np till twenty-two years after it had taken place. He admitted that all measure of relief was objectionable, but the peoposltion which had- fi been made was liable to ten nite% fewer objections than any other. The Marlins of LANSDOWN contended, that if the Bank limited the time of its advances to the same period es that of its discounts, the goods might be as unmaleable then test teiey were now. The Bank must dim renew the sante advances, or else the present distress would return. Whatever change might take place in the circumstances of the world, the hands of the Bank would be equally tied Up, and it. would beprevented from making that reduction in its issue) tier which the interests of the country might call. The Earl of LIVERPOOL said, that there was a strange misunderstanding as to the discounts of the Bank.. They were made on the credit of individuals, but it was nu goods that. that credit rested, and the reason why the Bank chose to discount on bills and credit was the greater convenience oflhe practice. But since the adoption of the Bonding and Warehousing Sys. tem, anti since goods were under the King's lock, all inconve niences in adeencing money upon them were lightened, if not entirely done away. Supposing the Money advanced not to be to the Bill amount of the goods, but to onn.ludf or one-fourth, they would bear much better security thine the credit of indivi duals. It was said that to advance money for so short a period would be of no use; but if the Noble Margot* had seen the number of persons with whom he (the Earl of Liverpool) had conversed on that subject, from every part of the country, lie would know that it was generally believed that an advance for that limited period would be of the greatest use. The money was In the country, and nothing but the restoration of eon& dente was wanted. If there were a want of-means, tire case would be very different; but if, as he believed, money was merely loeked up, the course proposed would be the most effectual. 'rite Earl of LAUDERDALE considered that measure as merely tending to remove the responsibility from his Majesty's. Government, and to throw it on the Bank. The Noble Earl said that in 1793 the difficulties arose out of the polities of the day ; but was not that the case now ? They were ascribed, he well knew, to panic and to overtrading; but if the balance of gains and losses through the whole country: were struck, he sli d not think that the latter wo u ld b e found to exceed ii .2 "' - " n b° ' , ' The Noble Earl said that the eireulativm of one and two pound notes, and the state of the law with lespect to banking,. were other cuuaes of that digress, and then he introduced a new sys tem of banking ! %v as that a mode of restoring confidence Many country banker* had weathered the late storm with great loss to theaiseives, but still in a ruanner which hail confirmed their credit. Was not that more likely to restore confidence than a new system? But the truth was, that Mr. Pitt, in dee Glaring war in 1793, had trot been a more active agent in bring. ing distress- upon the country dam the Noble Earl in producing such me asures as w ere now before. Parliament. Had he at. tended t o hi s M a j es ty's Speech, he would have seen it stated, that the growing pr of the country would Rion repair the evils whi c h- it had *uttered ; but he had taken another way," and wanted to eff e ct a total change of system, the most fatal of beeam e measure which could - be - concei v e d, and the c ons eq uences of which The beet and only way o r eth a n p t pn- a a i r l e ori t. ted in 1793, r a out gaie giving everylief' 'day snore in 1814. Even if it were wrong in itself, the very circumstance of its having already restored confi dence, wo uld make him a ny would (the Earl of Lauderdale), tread the path which hail alretuly succeeded. But in these times, right or wrong, somenew ex periment must be tried! The . Noble Earl had' Wrought the country to such a state that an Issue of-Exchequer Bills would he very useful, and much more effectual than all his new fangled plans. BANK CHARTER. The Earl of Id VERPOOI, moved., that the Report of the Committee on the Bank Charter Alteration Bill be agreed to. The Marquis of LANSDOW N rose to propose u proviso to the clause added by the Noble Earl to the dill fur allowing the Bank to establish Blanch flange in various putts of the country. The object of this proviso was--to compel the Bank of England, in the event of its establishing s u c h banks, to make payments in coin at those Team where they issued Paper. It would always be found necessary foe the t n . g i e l ee ture to provide that paper be not 01 4 convertible into coin. but that it b e convertible in the earliest meaner and at those Iplaces wk cre paper wa s inos t used. ilo was th e mo r e in. uced to press. this from what had. happened iii Ireland; where one of the branch banks refuetel to pay its own notes in coin. Proceedings were cormeenced against the Bank of Irelend, who were wisely Advised by their•Coutbel , that their erintract, being aria of a general nature, they were compelled to make payment, In consequence of this, however, by inserting the words " in Dublin" on their notes they bad made their con- BANKING SYSTEM. The Duke of ATI-1014 presented petitions from the towns of Arbroath and Perth, and the County of Peebles, against the abolition of Small Notes, and any change in the Banking Sys tem.—Laid on the table. SLAVERY. . The Bishop of BATH and WELLS presented a petition from Glastonbury, praying for the abolition of Slavery, and approving of the measures taken by his Majesty's Government in 1823, to obtain that end.—Laid on the table. Lord CAWDOR presented similar petitions ftom the Coun. ty of Pembroke, and the town of Fishguard , in that County.— Laid on the lade. Earl GREY presented petitions to a similar effect, and most numerously signed, from the town of Newcastle-upon-Tyne ; ' from Sheffield and its vicinity ; from the Master, Wardens, and Operative Cotters of Huddersfield, in the County of York : from several parishee in the town of Sheffield ; from the Borough of Doncaster ; from Pontefract, Rothwell, Manley, Eckmons. worth, Gomersal, Hosforth, Ilderston, Putisley, Stannemeath, Disloy, Yielden, and several other places in the County of York.—Laid on the table. Mr. D. GILBERT, and others from the Commons, brought up a private Bill, which was read a first time. Mr. SPIILL ER ' from the Commission e rs o f the Caledonian Canal, pr esente d a list and copy of the claims prefenred, and comPetisetions granted for damages occasioned by the making of the.Catial.--Laid of the table. PROPOSITION TO THE BANK. The, Marquis of LA NSDOWN wished to say a few words before the House took into consideration the. Report of the Committee on the Bank Charter Bill, when he should move a clause for the purpose of compelling any Branch Bank which the Bank of England might establish, to pay in coin where its notes were issued. In order to save-the time of the House, it might be an advantage if the Noble Earl opposite would inform hivii‘whether it werecorrect that a communication had been made by his Majesty's Government to the Bank of England, to influ ence its Directors to engage in the new system, now in practice at least, of issuing money on goods pledged as security. if this were correct he should make some observations on the intro duction of a principle so important, and as he conceived, so in. furious. The Earl of LIVERPOOL had no difficulty in stating, that it was true that 3 communication had taken place between some Members of the Government and sonic Directors of the Bank of England, on the subject to which the Noble Marquis had al luded. He was not able to.say what the decision of the Direc tors, or of any branch of them, might be, the subject being still under their consideration. The Marquis of LA NSDOWN understood from the Noble Earl's answer, that as far as his Majesty's Government were concerned, their opinion was formed as to the propriety of' the measure, and they had called upon the Bank to adopt it. He most earnestly hoped that they would re-consider this opinion, or that the Bank would not lend itself to such a measure. li e lied no hesitation in saying that even admitting the necessity of an extraordinary interference to give an impulse to the currency the mode proposed was the most objectionable of all. A tall time and particularly in many discussions in which the Noble Earl end himself had been engaged, the principle had been recognized that it was indispensable to its individual and the general good that the hands oldie Bank should be free, on account. of the in fluence which It exercised over the state of the currency and the exchanges. Now what was more likely to tie them up and to. embarrass its operations as that particular mode of making ad, vances to a great, if not to an unlimited extent on the security of goods. That view of the question bad been brought under the consideration of Government and the Bank in 1793, when Mr. Pitt and Lord Melville, who then sat in theother House as, a Minister of State, expressed in the strongest terms their opi. nian that it was not tit to induce the Bank to depart from its accustomed course: Mr. Pitt stated, that the Bank in the dis counts, looked to securities which could be made available in two months, whilst the securities of goods was n ot di s p osa bl e i n that time, and it was a course to which it was not accustomed— ! Lord Melville's opinion was still stronger, when as Mr. Secre tary Derides, he entered his protest against any such measure, and declared " that to call on the Bank was by no means pru dent ; that the Bank discounted on security, and on the prin. ciple that a return'would be made in two months, whilst the measure carried far heyond that time." If these objections ex isted at that period, how much more applicable were they not now, when by the consent of every man of common understand ing who had considered the subject, it was to tbe Exchanges that the Bank must look for the government of its transac tions. And if no man could be found bold enough to antics. pate what the course of the exchanges might be in the next six months, would it be safe or prudent to make the Bank in. crease its issues on the deposit of goods which could not be con. tidered saleable, so that in a case of expediency those issues could not be recalled. It was necessary that the-Bank should have a. complete controul over its actions. What then would be the result, it' in addition to the large capital already locked up to pay the dead money, the springs of the whole machine were clogged by the additionalaveight of issues on goods which, when made, could not be recalled in sufficient time ? Would not this prevent the accommodation of those who, in the usual course of business, should apply for discounts ? If an artificial interference were necessary, a direct issue of Exchequer Bills would be in- finitely less objectionable, because if it were true, as it was asserted, that it was not money which was wanted, but confi dence, Exchequer Bills would go far to restore it without being wholly converted into currency, whereas the whole of these issues upon goods must be turned into currency at a tract a special'ozitt for Dublin„ind ccild•nirt be forced to pay itf coin at tlieir branch establi.:inients. flc - tad•beeu informed that the country bankers in England ini(! lately adopted a shill lar expedient, ,and made their notes pay:.l , le in liond,ol only. The Noble 111arq`uis then read hi. provi , ,o,'whieb st:itoti that in any place where the business; of the 13 ailr of 'Englanc 4 was carried on by a branth establishment ; ary pretnis,oi . y note issued shouki be made payable in coin at that plive i,s well as in London. The Earl of ,LAUDERDALE was understood to say; that, unless the notes were framed in a partic`ular manner, the branch bank{ might say that they had not issvu d them. The Earl of brvgitpoor, had no objection 'either to the proviso of the Noble Marquis, or to the Suggestion of the Noble Earl. As the Bank of England notes wcte more liable than others to be forged, on account 'of' their great 'circulation, the Branch Banks having local notes might be a benefit:' t would be equally advantageous, in , the ease in which individuals should collect to make a run on the Bank of England or upon any particular branch, for to throw ahserAlit upon such an esta blishment would be a serious evil. lie therefore thodght that if would be beneficial for the Bank of England to adopt a dif ferent form of notes for its branches. Looking at the question with Constitutional jealthisy,lhe proiso' Would act as a consi derable cheek to over issues. The Marquis of LANS,DOWN obieried that if the Bill passed without such a regulation it would be in the power of any branch of the Bank of England to extinguish the strongest country bank in any district, For if it were not obliged to pay in coin it might .coliect all the notes in that bank and then de. mend gold when the other could not retaliate. The original clause having been agreed to, the proviso was then put ;Ind carried unanimously, and it was understood that it' the Bill could be engrosSed in time, it.ahould be read a third time to-morrow.—AdjoUrned. HOUSE OF COMMONS. - - 7 - - Mr. ESTCOURT took the oath and his seat as a .111erober for the University of Oxford. 111 r. BANKEs, jun. was sworn in as Member for Corfe Castle, in the room of his father. BANK CHARTER. Mr. BEST, from the Treasory, brought up an extract from the Bank Charter, which empowered them to lend money on goals, wares, merchandise, on the table. • Mr. Brno{ obtained leave to bring in a Bill, for lighting Camberwell Road .with Oas. _ Sir RonEnT SHAW brought in a Bill, to amend the Act re lating to the Hibernian Joint Stork Company. • ANTI-SLAVERY PETITIONS. Petitions against Slavery were,presented by Sir W. Ingil.by, from Appleby, Spalding, and Lincoln .; by Sir J. Si:bright, from Royston ; by .11r. tiordim, from'Stonehayen ; by Sit IV. Musgrave, from f:ton-hall Parish.—Ordered to be printed. ATTO RN VS"TA X. Mr. Gonnox presented a petition from the President and Society of• Advocates of Aberdeen, against the Attottieys"rax. —Ordered to be printed. CURRENCY. • • Mr. Cu AiNtliNd presetltt;tl a'petition from the ProVost and Council of Invernckss, against a change in the.Chrreney. Mr., TR/OJAI:NE presented three Petitions against Shivery, front Green Bridge ; front the East District of Corn. wall; and Prom Roth-hill. DEBTOR AND CREDITOR BILL Sir C. COLL; presented a petition froM the Creditors of a Banking Establishntent, in Swansea, in favour of Air. Bright's Debtor and Creditor Bill. The Honourable Member stongly recommended the principle to the consideration and support of the House. In the case of the Bank, whose cre ditors now petitioned, it would enable the firm to pay the whole of their debts by four instalments of five shillings in the pound each. . Mr. BRIGHT made some observations on the nature of his Bill. It made that lawful which hitherto was considered an Act of Bankruptcy, namely, an - arrangement, by which debtors assigned their property to a portion—fixed bT the Bill at seven-eighths—of their creditors for the benefit of the whop He was in possession of numerous letters front persons of re spectability and judgment, written expressly in approval of the Bill. 11e dwelt much upon the authority of one which he hail received front an individual of Manchester--a practical and experienced man—who' demonstrated by facts, the 'beme ticial results which must follow from the Bill, and how pre ferable the arrangement which it contemplated was to a bardc ruptcy. In the former case, debtors frequently discharged the whole or their obligations, in the latter,' they ssldont did. His 11111 had the sense of the country in its favour, and he was so convinced of the advantages which would attend its operation, that he could not be induced to abandon it by any opposition which might be offered in the.Committe, until he had brought it beihre the House. . ilk. Alderman WOOD spoke in stipport of the Petition and of the Bill. Mr. LOCKHART thought the principle of the Bill good so far as it went; but he conceived it onliht to go a great deal further. Tbe Bill made the execution of the Trust Deed to be noact of bankruptcy, but then it ought to provide for the pre. vious act of the executing parties. As the law now stood such execution was not tin act of bankruptcy unless proceedings were taken upon it within six months, and in many instances now existing, the creditors who had consented to the usAignmeM might avail themselves of it in order to take out n Commission of Bankrupt, unless a clause were introduced into the Bay.° prevent them. Mr. BRIGHT would willingly agree to the proposition, and would introduce the clause, if possible. The Petition was ordered to be printed. ATTORNEYS' PEES. Mr. LESLIE FOSTER presented a Petition from the At• tnrneys of Ireland, praying that they might nut he restricted to the taking ofeertam Fees.—Ordered to beprinted. presented a Petition front the Inha. bitt A t i n r ;s l o ‘ i 7 ' iljl Newark upon li rrent against Colonial. Slavery. Four similar Petitions were presented by Mr. S. NVORT LEY from the town of Sheffield. Lord STANLEY presented a similar Petition from the County of. Lancaster. The NOBLE LORD also presented Petitions front Man chester; the Township of Royston; the neighbourhoods of Marsden, Troubeck, and Armwford.—Orelered to be printed. USURY LAWS, Lord STANLEY protenteii a petition from the Chamber of Commerce of Manchester, for the Repeal of the Usury Laws. Ordered to be printed.. TITHES. Mr. SYK ES Laving obtained leave, brought in a Bill for the Collection of Small Taties.—Read a first time, and Ordered to be read a second time on Friday next. The Hon, OV:tt TLEM4 N then presented a petition from oe nrria bitsirre Cockburn, relating to the Duty on Foreign Fie •t ores.— Ordered to be printed. PHILLIPS pres,ented a petition from Ashton-under lane on the subject of the Corn Lord J. lU,JSSELL presented n petition from Iluntingdon against Slavery. CRUELTY TO ANIMALS. Mr. HOIIHOUSE prcsented a petition front the parish of St. Margaret and St. John, Westmmster, in favour ot the Bill against Cruelty to A nitnals ; and aboidmilar petitions from the Inhabitants ot Pentouville, and the parish of St. \larylebone. —Ordered to be willful. EENWICH 110 SP ITA !J. Mr. CHARLES CALVERT moved for Returns of the Money paid to Greenwich h ospital, front the 'MSc December, 1824, to 31st December, 1825, on account of the sixpenees de ducted front the pay of merchant seamen.----f)rilered. ATTOIiN Ilea' TA N. Mr. J. SMITH presented a petition Iron the Practitioners in Law of North Britain against the Attornies' Tax.--Ordered ! to be printed. CURRENCY. r. HUM presented a petition from the Alcrebanta, ship. owners, arid Mannfartorers of 'Aberdeen, against an alteration in the Currency ; and alai a similar petition from the Mao.. tratcs and Town Couneil of another Town in tienthrul. The lion. Gentleman strongly urged the tweeF4lty of :ot t ndin e to the prayer of thtr+ta petitions. The passing of a Bin the alteration of the. Scotch Currency, he said, would inevit a bly put half of the population out of employment. ALtteit, had s toOd very well as they were for a Undyed year, tee :t, and he wou ld recommend to let very well alone. cmita i n t ;OR DON coneorred in the sentiments expressed by ihe Lion. Member lirr Aberdee n, w hoped O would pause before they determ i ned on their . proposed measures. —The Petitions were ordered to be printed. 31r. 111131 t presented a petition from the' Operatives of s out h shields, and untidier from those of Blackwell, in Aliddle.. s ex, praying for the repeal of the Corn Laws, and the exaction PRICE SEVEN PENCE. 'of security from.- Prhia te Bankers to the' amount of th e i r i ssu e s . The Iron. Gentlemen Molise she etise to c o ns id er t h e m i.- sery which had been brought on thousands or poor individual, Who had held the notes of banks which hild failed. 'h e i r case certainly indicated the necessity of adopting some it rrangernentg, • whereby the public might be assure of the stability or thous Hanks whose notes were in circtilatim—Betb petitions weri ordered to be printed. Lord STANLEY presented a petition from die Chamber of Commerce Of 'Manchester on the subject ()fa Metallie and Paper Curreno, anti also preying a reduction of Stamp Duty upon 'mall Bile of - Exchange. The part referring to. the Currency he tvculd press upon the consideration of the House, as ti Rill on the subject was now in prOgrettf; but he Would meet earnestly recommend to the Chancellor of the t.:* . ellequer the suggestion of a reduction in the Stamp Duty on Small bills, as one of great importance: It would be peculiarly advantageous, • when by the operation oftha Dill the Country Would be in want ' of a small note currency. Mr. CA I.CH A FT begged to . aiik diction. Meniber for Tion• Jon, Whether it watt' , his intention to' press hie motion of which he had given noticelor to-morrow (Tuesday.) Mr. 'l'. WILSON replied that it was. 'I here had been soma partial understanding on the subject, he said, but he could not tell to what it amounted. ABUSES . - IN THE CORPORATIONS OF, IRELAND. r. DENN A N presented a petition from Thos. Flanagan: of Sligo, complaining egaitnit abules in she . Corporations of Ireland. PROMISSORY mO'rES MU. The CHA NCELLOR of the EXCHEQUER moved the Order of the Day fier going into a Conunitteo, on the 14romis.: sort' Notes' Bill. On the motion that the Speaker leave the Chair; Mr. CA LCRAFT expressed ! a- hope that an opportunity would be offended him to express his sentiments on the Bill at an early hour I.o.lnOrrow. The CkIANCELLOR of the EXCH HOLIER wished that he could be afforded the opportunity tosday. , The Hon. Gen: deman'a wish to accommodate the Hollse in point of time, gave hint a claim to similar courtesy on their part. Bet discussions which had taken place in the Committee rendered it necessary that the Committee should he gone- inw again, est there. were many clauses to be introduced into the Hill. But if the Committee were over to-dey,,tte hoped the Report might be received, to-morrow, so as to, stand the required opportu nity. 'Phis measure Ivae,the - Brat Valet of the Day which he would wish to move to-morrow, after the Notices were dis. posed Of. Mr. HUME wished to make a few observations before the Speaker left the Chair. He dillSred from the Chancellor of the Excheyser as to the causee of distress. lie considered the measure now betisre the House to be not only uncalled for, but likely to produce much mischief to Emdand, and still more to Scotland. He would recommend Scotch Mont r* to be aware how they co-operated in. fastening such a measure upon Eng land, as they would afterwards with seyery bad grace seek to exempt Scotland from its operation.. As he conceived, the-eurs. Tetley neght to be similar for England, Ireland, and Scotland, rind such a one as he had recommended. He was sorry toper. eciVet ' that a Right Honourable (.4endeman had retracted the opinions which he had expressed on the , Bullion question, with regard to a paper currency conVertible..into money.... He (Mr. IluniC) did not dunk that either a paper currency, or a metallic currency singly would *newer our etenmercial purposes.. There was a necessity for a mixed currency, where.. in paper would be convertible, upon demand, into gold. or silver. As to the argument against stiffering the issue of one pound notes, - inasmuch as it was an infringement on the prero. gative of' the Crown, he considered it quite frivolous; and so . tar as It was • at all applicable, it made against the issue of M., 101., and all other notes - whatsoever, they being equally infringements on the prerogative. It was also said, that the suppression of one pound notes was designed in mercy to the poor,in whose hands that part of the currency rested, and the miseries of the unfortunate people, • arising front the failure of Country Banks, were depicted in the most pathetic terms.-e- But, he would ask, did the present measure secure the lower classes against the recurrence of such Misfortunes. The small tradesmen who held the bl. or ' WS notes of any thank that failed were fully as much to be pitied. as the holders of 11. notes. Ile would venture to assert that the mass of rejected notes was to he fbund not in the hands of the very lowest class,het in those of the small tradesmen and shopkeepers. A substitute for bullion was nereesary, and it could be found by putting the Banks upon a firm footing, according to the plan which' he had suggested. If any Bank were to fail after the paieine of this treasure, and before 1820, the Chancellor of the -Exchequer would be re. sponeible for the consequences, unless he would exact security from the bankers. lie thought the Crown and the Mouse would,' in the event of a failure, he answerable" to the extent of requiting parties for any loss which they might sustain in consequence of the 'osin of the Ilill. The artisans in the Plymotith Dock-yard had been paid at the rate of about 7001. nweek in the notes of a bank which stopped paYments and dew the greatest distress prevailed in the eeighbeoring villages from the dissemination of notes which Ministers employed for the wages of artificers. This was a complete illustration ofthe effects which resulted from the system of banks being suffitred to issue their paper without .giving security. - He recollected the simile which had been employed by the Right lion. Secre tary fin Foreign Allitirs, who said that the gold of a country was like the dove which fled from the ark and did not return to it; but such an event could only take place when there was a suspension of cash payments,. and was not aplicable in the present case. In recommending that bankers should be bound to Make deposits of securities for their homes, he bad n`mobjec tion that those deposits should be confined to the issue of 11. notes for the first year; extended to the b/. and 101, notes; and to all others thenceforward. If such securities were en.: forced, there could he no . fear of over issues, so as to in.; duce a depreciation in the currency ; for were there a deptecia. don even of Ilt per cent. ; it would be a sufficient inducement to brokers to cent! the gold out of the country, which would have time effect of bringing the currency back to its-propeestan. &id; and thus the evil would work Its own cure. By depoeit ing llovernMent Securities in the hands of Commissioners, hankers could sustain no injury whatsoever, as they would have a right to receive the interest ad per cent. accruing on their de posits' with which the Commissioners could not interfere. lie would also have 'it enacted, that , bankers should be bound to pay upon demand the amount of their notes, or, in default of such payment, that the Commissioners should be empowered to convert their deposited stock into money, in order to satisfy the claim of tire note. holder. The consequence of such a regulation would be That there would be no run upon a bunk ; and it so desirable an end were once attained, they would real* a paper currency of permanent security, and thereby save to rho country no less titan twenty millions ofcapital. Ii would also be proper that every banker's note should be not merely payable upon demand, but upon the spot where his bank. stood. In some places at present, a note could not be converted into gold at a nearer distance than three hundred miles from the place of Issue socknote possessed no stamp or character' so ac ; tei' of currency. a y- r lie thought it a matter of no conse quence how great the quantity of paper issued might be, pro. sided its payment was properly secured. It wits objected, in, , deed, that his plan was merely theoretical, and had never existed in fact; And it was also said that scarcely any bank notes circulated in Ireland. But during the last two years paper had been issued in that country to the amount of two millions: To the first objection against his plan as theoretical and lineup pont d by instances, he would reply that its practical results had been fully shewn in America. In New York, there were $b chartered banks, and not a single private one. Each bank wits compelled to give security for its solvency l and to exhibit annual accounts of the most particular description as to the amount of its heroes, the quantity of specie, and the balance of profits remaining in its coffers, to the President and Cone greet ; and where the slightest doubt existed ant to the solvency of a bank, a Committee was appointed for the purpose of woe mining into the state of its affairs. Now, it was objected that such investigation would be an unjust interference with the private concerns of individuals; but Surely it was hut fide that 'sin exception should be made as to the right ofeatimitiing , the aftitirs of those who exercised the prerogative of the Crown. Moreover the public benefit derived from much a praCtlet Sias foliy exeniplitied in America; where no more than one htni 4l :c occurred time the year 1016. 'ln MartstichusatttWilal'olePlio°r% shin in the hank charter, the charter itielf was ferfeste silting* vsfus a t to pay the amottnt of a note upon demeri,:lloat n ? 1 sl,r . n e t' Ow late A mericitn war with .England, when t „ 5 t,t , r ,7 1 !,..., shield were not chart&red had suspended il i !mt c ir r ; 1 1 1 , 1 1 1 . ;; I : i ' r ' e u el - metered bunks of Nitossaellussetts and d im eiiiference in point at never - lost a farthing, end there wits' Mutt ,threinueti security between their paper antilrri ,„ :7 l 4.. ' e He .would 1111:e4ibtre'ruinn ' 4PitimaPtl°t174)‘":11;i b : a ltl i r m i kirs u'l:c'- t ' o it d n; :l ll :Cifit kl s i e t :4 3 '; ' ?lTa l l 't a lc' t e h a n clause into the MU obligits .' , i' -... r 1; • - 4'...1• ..,.,... 4„ 441 ' r , _,....„..... - ......,,.,..,c,.., ,77'...W14,2,,,,,4' ••• Air .4.7 . s i r.^7••• 4's: /.. ‘ 4 ' ,„ ',..._ kir ''...t . . 1y.4. 0.,..,. e ~..,.. , s „ ' f cr ...